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Do It! Review 16-1 Kurtyka Corporation had the following transactions relating to debt investments: Jan 1, 2017 Purchased 70, $1,150, 15% Spiller Company bonds for

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Do It! Review 16-1 Kurtyka Corporation had the following transactions relating to debt investments: Jan 1, 2017 Purchased 70, $1,150, 15% Spiller Company bonds for $80,500 Interest is payable annually on January 1. Dec 31, 2017 Accrued interest on Spiller Company bonds. Jan 1, 2018 Received interest from Spiller Company bonds. Jan 1, 2018 Sold 42 Spiller Company bonds for $47,150. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account tites and enter for the amounts Record journal entries in the order presented in the problem.) Account Tities and Explanation Creo (To record recelot of the interest revenue) Jan. 1. 2018 (To record sale of bonds.) Prepare the adjusting entry for the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the accountries and enter for the amounts) Account Titles and Explanation Credit

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